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IMF Ready To Continue Cooperation With Armenia, Lagarde

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  • IMF Ready To Continue Cooperation With Armenia, Lagarde

    IMF READY TO CONTINUE COOPERATION WITH ARMENIA, LAGARDE

    YEREVAN, October 14. / ARKA /. The International Monetary Fund (IMF)
    is ready to continue cooperation with Armenia and to help it enforce
    more structural reforms, IMF Managing Director Christine Lagarde
    said during a meeting with Armenian Prime Minister Hovik Abrahamyan
    in Washington, the Armenian government press service said today.

    She was quoted as saying that Armenia is a reliable partner and the IMF
    will continue to cooperate with it, to promote structural reforms aimed
    at economic development of the country. Lagarde also said that "the IMF
    is home to all, and Armenia is a full-fledged member of that family."

    Abrahamyan, in turn, praised the cooperation between Armenia and the
    IMF and the latter's contribution to the economic development and
    institutional reforms in Armenia.

    "The IMF has been and remains an important partner of Armenia.

    Macroeconomic stability has been our most important achievement,
    due also to the IMF support," he said.

    According to the prime minister, IMF's new three-year development
    strategy for Armenia, approved earlier this year by IMF Board of
    Directors represents a new stage of development for the Armenian
    economy. He expressed confidence that the implementation of this
    program will take Armenia closer to 'the camp of countries with
    emerging markets."

    Abrahamyan said that the government is determined to continue reforms
    in various fields, aimed at developing the economy and improving the
    country's competitiveness.

    On March 7 the Executive Board of the International Monetary Fund
    approved a 38-month SDR 82.21 million (about US$127.6 million,
    or 89.4 percent of Armenia's quota) Extended Fund Facility (EFF)
    arrangement with the Republic of Armenia to support the authorities'
    economic program.

    The program aims to support a rebound in economic activity, further
    progress in poverty reduction, inflation stabilization, and a reduction
    in outstanding fiscal and external vulnerabilities. -0-

    http://arka.am/en/news/economy/imf_ready_to_continue_cooperation_with_armenia_lag arde/#sthash.alMDdUIB.dpuf

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